Ritesh Agarwal says the only thing that matters on the journey to success is one's experience with failures

27-year-old Ritesh Agarwal is no newcomer to success, but also tribulations in the business world. Rather, the entrepreneur dropped out of college to chase his dream, instead of waiting for 'experience' or even that coveted MBA to get it all.

The founder and CEO of disruptive hospitality business and app Oyo Rooms, Agarwal recently took to Twitter to answer a question he if often asked by young founders.

The question being: does experience play a big factor in success?


Answering this question, Agarwal - who was a millionaire by the age of 22 thanks to OYO Hotels and Homes which he founded in 2013 - said that "more than your experience in the domain, what matters is your experience with failures."

"If you are learning & failing early, your ability to succeed later on goes up manifold," he said in a tweet.


According to news agency PTI, the hospitality firm's India business is now Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) positive and the company is earning the same gross profits globally in dollars since January 2021 as it did in the pre-Covid period, Agarwal had told employees in an e-mail in March.

OYO earned the same money since January 2021 as it did in the pre-Covid period. This is a very big achievement and demonstrates demand recovery and results of a revenue-share-only-network, he added.


(With inputs from PTI)